Popular Bitcoin and altcoin analyst il Capo of Crypto commented on the latest developments in the market. Capo, who previously said that altcoins could experience a 20% to 30% decline from their current levels, said in his new statement that some of the decline has been completed, but the altcoin market may experience another 10% to 20% decline.
Il Capo warns about Bitcoin and altcoins
The cryptocurrency market has been experiencing a sharp decline recently. Bitcoin (BTC) and other altcoins have fallen significantly from the highs they reached. This decline raises concerns among investors. Popular cryptocurrency analyst il Capo of Crypto commented on the latest developments in the market. Capo, who previously said that altcoins could experience a 20% to 30% decline from their current levels, said in his new statement that some of the decline has been completed, but the altcoin market may experience another 10% to 20% decline.
Capo also made comments specifically about Avalanche (AVAX). Saying that AVAX has received a rejection from its main resistance between $50 and $55 and started to decline, the analyst claims that the price of AVAX may drop to the $24 level. Capo, who also made evaluations about Bitcoin, said that the BTC price still did not reach a support level after the decline and that long positions fueled the downward movement.
Danger of “capitulation” for Bitcoin
The analyst thinks that a major capitulation in the cryptocurrency market is imminent and the Bitcoin price should fall below $60,000. Capo’s comments are followed closely by investors. Analyst’s predictions are important in terms of giving an idea about the course of events in the market. The cryptocurrency market is a constantly changing and developing market.
Capo’s previous comments
cryptokoin.com As we reported, il Capo predicted an uptrend for Bitcoin in 2021. However, he also predicted that 2022 will be a “bear year” for the cryptocurrency market and the Bitcoin price may fall. As a matter of fact, the Bitcoin price has fallen in 2022 and altcoins have also declined significantly. il Capo started to come to the fore with his predictions that the market would decline rather than that it would rise again.
However, it is important that investors do not blindly follow il Capo’s predictions. Investors should consider il Capo’s forecasts in conjunction with their own research and make investment decisions accordingly. It is important for investors to note that they can use il Capo’s forecasts as a resource, but should also do their own research before investing.
Warning note to investors
It is important for investors to do detailed research and consider the risks before investing in this market. Although the cryptocurrency market has been in decline recently, analysts believe that the uptrend will continue in the long run. It is important for investors to do detailed research and consider the risks before investing in this market.
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